Data-center tech company Switch celebrated its initial public offering by ringing Friday's opening bell at the New York Stock Exchange.

The Las Vegas-based company raised about $531 million from the IPO. Shares began trading at $17, above the proposed range of $14 to $16 per share.

The company intends to use the proceeds from the IPO to buy out investors in Switch Ltd. and take control of it as a holding company.

Founder and chief executive, Rob Roy, developed Switch on the sustainable growth of the Internet in 2000. Roy developed more than 350 issued and pending patent claims covering data center designs. Switch uses clean and renewable energy to power data centers.